Vice president, Nangolo Mbumba, on Thursday reiterated that Namibia is open for business and that interested investors should take up available opportunities.

Mbumba made these remarks at the US-Africa business summit held in Gaborone, Botswana, under the theme; “Namibia-becoming the sustainable energy capital of Africa.'

Mbumba stated that Namibia’s energy sector has seen considerable advancements in recent times.

“In realm of oil and gas, the discovery of vast reserves by international companies TotalEnergies and Shell has catalysed a new dawn for our country,” Mbumba said, adding that these reserves, once fully appraised and eventually developed, will contribute meaningfully to our economy and will form a cornerstone in the country's strategy to alleviate unemployment and income inequality.

Moreover, he stated that with regards to renewable energy, Namibia’s unique geographical attributes place Namibia at a significant advantage above many other countries, explaining that Namibia has 300 days of sunshine annually and is blessed with constant winds.

'With the signing of the feasibility implementation agreement with Hyphen Hydrogen Energy to produce green energy hydrogen, Namibia is effectively harnessing our natural resources to contribute not only to regional energy equity, sustainability and security, but also to the decarbonisation of our planet,' Mbumba said.

Source: The Namibian Press Agency